Pörssitiedote

Dynamic Credit Diversified Loan Fund invests in Tessin property loans

Stockholm, Sweden - Tessin Nordic AB (publ) (NASDAQ: TESSIN) has closed an agreement with funds managed by Dynamic Credit, a Dutch asset manager in which BNP Paribas Asset Management is to acquire a majority stake*. The fund’s investments in Tessin property loans are expected to amount to SEK 200-300 million in 2022.

Founded in 2003, Dynamic Credit is an asset manager with over € 10 billion in assets under management. Dynamic Credit has built on its expertise within the origination and management of mortgage loans to source granular loan portfolios for its Diversified Loan Fund strategy, including personal loans, SME loans and now also property-backed loans.

“We are in a growth phase and the agreement with Dynamic Credit is a key component of our strategic initiative. We are augmenting our existing investor network with capital from institutional investors. In so doing, we are meeting the substantial demand for financing in the real estate sector and securing major project lending capacity, which entails faster growth for Tessin,” says Heidi Wik, CEO of Tessin Nordic Holding.

The agreement is between the Dynamic Credit Diversified Loan Fund and Tessin Capital. Tessin Capital, is a company within the Tessin Group that offers tailored investment offerings in property loans to large investors, such as UCITS funds and other institutions.

The investment by the Dynamic Credit Diversified Loan Fund is the second agreement with an institutional investor in the past six months. Praktikertjänst announced last July that it is investing a total of SEK 150 million in property loans via Tessin Capital.

“Roughly speaking, current building projects in Sweden add up to more than SEK 100 billion. Tessin Capital and institutional players like Dynamic Credit are making it possible for us to meet the growing need for financing faster, grow business volume and challenge major lenders,” says Tessin CEO Heidi Wik.

Tessin offers financing to property companies and property developers in Sweden and Finland. The loans are financed by a consortium of retail, professional and institutional investors via the Tessin digital platform.

* The Dynamic Credit Diversified Loan Fund is managed by Dynamic Credit Partners Europe B.V., a Dutch asset manager. Dynamic Credit Partners Europe B.V. is part of the Dynamic Credit group in which BNP Paribas Asset Management is to acquire a majority stake.

About Us

Tessin was founded in 2014 and is now a leading Nordic digital investment platform in the property financing segment, in terms of brokered capital. Tessin has more than 58,000 registered members on the platform. The business is based on a proprietary digital platform that links property developers seeking loan financing with investors seeking exposure to a high-return asset class with balanced risk and backed by collateral, primarily property mortgages.

At present, Tessin primarily offers construction and bridge loans to property companies and property developers. The loans are funded through the Tessin platform by a syndicate of private, professional and institutional investors who are given the opportunity to invest in secured real estate loans with attractive yields. Tessin currently operates in Sweden and Finland. Since its founding, the company has brokered about SEK 3.8 billion in financing to more than 300 different real estate projects. This has contributed making the building of around 7,000 residential units, as well as numerous commercial spaces and public buildings, a reality. Since the beginning, the equivalent of around SEK 2.8 billion has been repaid to platform members and the average annual return has been 8-9 percent.

Visit our website to learn more about Tessin.

Financial information about Tessin is available online at Tessin Investor Relations.

FNCA Sweden AB is the Certified Adviser to Tessin. Tel +46 (0) 8 528 00 399 Email info@fnca.se